Czechia floats RePowerEU compromise as several EU nations object to MSR sales -official
Czechia is proposing the EU raise most of a €20 billion RePowerEU revenue target from selling carbon allowances earmarked for the bloc’s Innovation Fund amid member state objections to solely exploiting units held in the MSR, an official told Carbon Pulse on Friday.
Read MoreLeaked draft shows EU states seek opt-outs to windfall levies, as nations mull alternatives to MSR sales
EU nations are seeking opt-outs to a mandatory revenue cap for non-gas power producers, according to a leaked draft seen by Carbon Pulse on Tuesday, while Bloomberg reported that ministers were still considering alternative ETS auction revenues to fund the RePowerEU plan.
Read MoreEU lawmakers rejig plan for far bigger, faster MSR sales under proposed RePowerEU changes -sources
Right-leaning European parliamentarians are circulating an idea to auction €30 billion worth of MSR-held and other carbon allowances over 18 months, rather than the four-year stretch for raising €20 bln proposed by Brussels’ RePowerEU initiative, two well-placed sources have told Carbon Pulse, added supply that could amplify bearish market pressure.
Read MoreNGOs sue European Commission over inclusion of biomass in Taxonomy
Some 11 NGOs are suing the European Commission over its inclusion of biomass and forestry activities in the bloc-wide Taxonomy Regulation, they announced on Friday, arguing that rather than channelling private capital into climate action the move would exacerbate warming and forest degradation.
Read MoreEU lawmakers adopt aggressive stance on energy efficiency, renewable targets
EU parliamentarians voted on Wednesday to raise bloc-wide 2030 targets for energy efficiency and renewable energy while curbing biomass use, with both measures taking centre stage in the EU debate examining how to increase energy independence following the start of the Russian war in Ukraine.
Read MoreBrussels advances €140 bln profit-grabbing measure, binding 5% power demand curbs
The European Commission will stick to its plans to propose a windfall levy on non-gas power generators in an attempt to redistribute what it sees as excess profits among households and businesses grappling with an unprecedented cost-of-living crisis, President Ursula von der Leyen announced on Wednesday.
Read MoreEU lawmakers ramp up ambition in efforts for deforestation-free supply chains
EU lawmakers endorsed on Tuesday a draft bill that would make it harder for EU-based companies and banks to either directly import or finance products at the origin of deforestation and forest degradation, paving the way for inter-institutional talks later this month to finalise the bill.
Read MoreUPDATE – Brussels to call for mandatory electricity curbs, despite member state resistance –leaked draft
The European Commission will this week propose a mandatory EU target to curb electricity demand at peak hours, a leaked draft circulated on Monday suggested, revealing the EU’s executive is resisting pressure from member states to only set out voluntary goals.
Read MoreEU ministers task Brussels to propose price-curbing measures, fail to agree on Russian gas price cap
EU energy ministers gathered in Brussels on Friday to hash out a set of emergency measures aimed at taming the effect of soaring energy prices, while making only limited headway on deciding whether to endorse a plan to sell €20 billion worth of MSR-held carbon allowances.
Read MoreSwedish mining firm to fight on in battle of EU ETS benchmarks
State-owned Swedish iron ore miner LKAB is persisting in its long-running legal battle with the European Commission over how to set benchmarks that determine free EU ETS allocations, with the latest court hearing due next spring, a panel heard on Thursday.
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